Arbitration is an alternative to resolving disputes in court. It is a process through which two or more parties use an arbitrator as a neutral impartial third party with expertise in the subject matter of the dispute to listen to the evidence and render a binding decision.
Arbitration is usually a binding process where the arbitration award is final and cannot be appealed.
Financial Industry Regulatory Authority Arbitrator
Arbitration is an alternative to litigation or mediation in order to resolve a dispute.
Arbitration panels are composed of one or three arbitrators who are selected by the parties.
They read the pleadings filed by the parties, listen to the arguments, study the documentary and/or testimonial evidence, and render a decision. The panel's decision, called an "award," is final and binding on all the parties.
All parties must abide by the award, unless it is successfully challenged in court within the statutory time period.
Arbitration is generally confidential, and documents submitted in arbitration are not publicly-available, unlike court-related filings.
However, if an award is issued at the conclusion of the case, FINRA posts it in its Arbitration Awards Online Database, which is publicly available.
File a Claim
A claimant initiates an arbitration by filing a statement of claim that specifies the relevant facts and remedies requested.
Answer a Claim
A respondent responds to an arbitration claim by filing an answer that specifies the relevant facts and available defenses to the statement of claim.
Arbitrator selection is the process in which the parties receive lists of potential arbitrators and select the panel to hear their case.
Prior to the hearing, the arbitrators and parties meet telephonically to schedule hearing dates and resolve preliminary issues.
Discovery is the exchange of documents and information in preparation for the hearing.
The parties and arbitrators meet in person to conduct the hearing in which the parties present arguments and evidence in support of their respective cases.
Decision & Awards
After the conclusion of the hearing, the arbitrators deliberate the facts of the case and render a written decision called an award.
Commercial arbitration is a means of resolving business disputes between two or more parties outside of a formal court system. Generally, the arbitration works similarly to a court trial, although the setting is more informal. An arbitrator or a panel of arbitrators usually serves as both judge and jury.
Each party may represent themselves or be represented by an attorney. After reviewing all of the evidence, the arbitrator renders a decision in the case.
Entities involved in a business dispute must agree to commercial arbitration, also called business arbitration, as a way to resolve the disagreement. The Arbitration may be mandatory or voluntary. If the arbitration is mandatory, the parties must use it as a means of resolving the disagreement. In a voluntary situation, the parties are not required to use arbitration as a means of resolving a particular dispute. They could, for instance, decide to resolve the case through mediation or through a court.
Most commercial arbitration clauses require that the arbitrator’s final decision be binding on the parties. Essentially, this means that the parties must adhere to the final decision, just as they would if it were handed down by a court.
Commercial arbitration is usually categorized as either institutional or ad hoc.
Ad hoc arbitrations generally operate in line with rules that have been agreed to by the parties. The parties also negotiate the selection and number of arbitrators, governing law, and where the arbitration will occur.
Institutional arbitration relies on independent, pre-established rule sets to govern the arbitration proceedings. These rules usually specify, among other things, the number of arbitrators used, the arbitration location, arbitrator fees, and arbitrator appointments. They also frequently state which set of arbitration procedural and evidentiary rules will apply to the proceedings. Additionally, institutional arbitration usually specifies a process for reviewing arbitral awards.
The use of arbitration in construction disputes allows the parties, whether a contractor/property owner, or contractor/sub-contractor, the opportunity to utilize a bonding dispute process to efficiently and quickly resolve the issues. The disputants can then either continue to work together after the issue is resolved, or move forward to complete the design or reconstruction project.
Using an independent arbitrator (ad hoc arbitration) allows the parties to manage the arbitration cost. The AAA construction arbitration rules can still be used without incurring the cost of a three arbitrator panel. This can be a significant cost reduction over the more formal arbitration process.
If your dispute involves issues such as:
• Workmanship, Design, Quality
• Building Code Compliance
• Building Permit issues
• Contractor or Subcontractor materials issues
• Building inspection
• Project Completion or Delays
Arbitration can assist in conflict resolution and get your project going again. An arbitration award can mean parties can continue to work together or financial roadblocks can be removed, allowing property owners to hire new craftsmen or contractors to seek new projects.
When a timely private dispute resolutions process is required, rather than a trial litigation process, we can offer a binding arbitration process that is confidential, efficient and binding on the parties. The Texas Family Code Sections 6.601 and Sections 153.0071 allow for binding arbitration in family law cases upon the agreement of the parties to use arbitration instead of a civil trial process.
An arbitration is a private process, as compared to a family law trial that is usually open public view. The parameters of the arbitration are contained in the parties’ agreement as to topics to be decided and structure of the arbitration or the structure can be left to the arbitrator.
The duty of the arbitrator “To disclose conflicts of interest” is required. This done so that the parties may choose an arbitrator without conflicts before a case is heard.
We can offer a binding arbitration award decision on all areas of a family law case, whether the issues are property division or child custody, access and or child support issues.
Under the Texas Civil Practice and Remedies Code, Section 154.027, all issues that a court can consider may be decided in an arbitration. An award would be issues within 21 business days of the closing of the testimony and of the hearing process.
An arbitration, depending upon the discovery needs of the parties and their attorneys, can usually occur more quickly and at the schedule of the attorneys, the parties and the arbitrator without being involved in a multi-case trial docket.
The family law court shall then issue a divorce decree or modification order based upon the arbitration award.
The Judicial Alternative
Agape Mediations and Ethics was created to revolutionize the way disputes are resolved. Historically, disputes which could not be settled have been resolved through litigation. As everyone is aware, lawsuits are very often lengthy, time consuming and a costly method of dispute resolution.
An alternative way to solve disagreements is through arbitration. This is a process where the parties submit the matter to a neutral person (the Arbitrator) who renders a decision to which they agree to be bound. As a result, arbitration is a much faster and less costly way to resolve disputes.
As early as 1925, the United States Congress by enacting the Federal Arbitration Act expressed a national policy of favoring private arbitration as an alternative method for resolving controversies between parties. This policy has been re-stated and enforced by the United States Supreme Court in many decisions as recently as 2011. Although almost a century has passed since the Federal Arbitration Act came into law, and only a tiny fraction of the population has had the opportunity to benefit by using arbitration as a way of resolving disputes.
Agape dispute resolution services has found the ideal environment to bring alternative dispute resolution, using binding arbitration, to everyone, anywhere! AM&E makes the Resolution of Disputes Accurate, Quick, and Cost Effective!
Please call or contact:
Agape Mediations and Ethics
Galveston, TX 77553
Phone (409) 539-5910